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Setting up a letting agency

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  • Setting up a letting agency

    Hi All,
    I have been a visitor to the site for a period of time but never joined.
    I am now thinking of setting up a letting agency business and seeing if there is anyone here that could suggest any advice. I have 3 properties myself which I self manage and have been studying the industry also.
    Looking forward to hearing from you

  • #2
    Re: Setting up a letting agency

    It is not easy building up a portfolio as an agent and takes years so your overheads will be more than your income for some time.

    Another option is to buy a portfolio of an existing agent at least you can do the number crunching from day one and you will know the income but you need to buy at the right price and take the view you will lose about 10% in the first few months as a lot of landlords don't like change or take it as a convenient time to sell.

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